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E4.1060 Prescribed exclusions

The legislation provides for a large number of situations and circumstances in which the charge to tax does not apply notwithstanding that a relevant step within E4.1058 has been taken. Further exclusions may be added, possibly with retrospective effect, by HMRC via regulations made by statutory instrument¹. The exclusions set out below are listed in the order in which they appear in ITEPA 2003. Certain exclusions are expressly denied if there is a connection between the relevant step and a tax avoidance arrangement. For the purpose of determining whether any relevant step or any other step is connected with a tax avoidance arrangement²:

1. Ìý

   •ÌýÌýÌýÌý the step is connected with a tax avoidance arrangement if (for example) the step is taken (wholly or partly) in pursuance of:

2. 1. Ìý

      –ÌýÌýÌýÌý the tax avoidance arrangement, or

   2. Ìý

      –ÌýÌýÌýÌý an arrangement at one end of a series of arrangements with the tax avoidance arrangement being at the other end, and

3. Ìý

   •ÌýÌýÌýÌý it does not matter if the person taking